Pilots perform daring stunts on aquaplanes over Lake Conway in Orlando, Florida. A boat in lake, a motor-less pontoon glider attached to boat taxis on water. Fred Jones on glider splashes water besides a boat. Bud Jones hangs from glider and performs aerobics. Glider comes down and splash into water.

Television correspondent David Schoumacher talks about beginning of phase II of U.S. President Richard Nixon's administration in Orlando, Florida. He briefly talks about the phase I which took place at Washington. He states that the phase II begins at Disney World in Orlando, Florida. He reports on a convention conducted by managing editors of news papers. This news conference is for editors. The White House Press Core is also there. The President of the Associated Press Managing Editors John Quinn addresses audience of the news conference. Cameramen with their recording cameras. John welcomes President Nixon to their 48th annual convention. President Nixon arrives on stage. The audience stand and clap for him. President Nixon gives John the opportunity to ask him the first question. John asks the President about keeping and maintaining 'The Republic' in the growing matter of the Watergate issue. The President elaborates on the issue. He takes the responsibility for the mistakes that were made. He assures the people that he will work for the cause of peace and to restore the confidence of the people in their President.

USAF Strategic Air Command units arrive at McCoy Air Force Base in Orlando, Florida. SAC units return home and arrive at McCoy Air Force Base (SAC base). The signal officer directs the aircraft for parking. The SAC personnel disembark the aircraft. The personnel greeted by their wives and children. Dignitaries arrive at the air base and receive an official welcome.

U.S. President Richard Nixon answers journalist George Gill questions regarding the Watergate issue in Orlando, Florida. George asks the President about his realization of the fact that 2 of the 9 Watergate tapes did not exist and his delay in disclosing this matter to the Federal Court and public. The President responds that on September 28th or 29th he came to know about the non-existence of those two conversation tapes. His secretary has listened to 7 tapes and has made notes for him. On October 26th they were determined about the non- existence of those two tapes. He directed White House Counsel Joseph Fred Buzhardt to carry out investigations. On 27th Buzhardt reported that he could not find those two tapes. He had arranged a meeting with Judge John Sirica. The President talks about his 5 minutes conversation on June 20th with the Attorney General John Mitchell. He had called to cheer him up. The conversation on April 15th with John Mitchell was not recorded because the call was made from family quarters where recording is not allowed. He talks about the shorter recording capacity of tape machines. Due to which his complete conversation with U.S. Secretary of State Henry Kissinger did not get recorded. The only evidence available for this were his hand written notes. He mentions the difficulty in hearing those recorded tapes due to non-sophisticated recording system. He states that he knows what is there in those recorded tapes. He believes that the tapes will prove that he did not have any knowledge of breaking of the Watergate issue, that he had not authorized anybody on clemency nor had he any knowledge regarding the payment of blackmail money. He talks about his conversation with the White House Counsel John Dean.

U.S. President Richard Nixon answers journalist Richard questions regarding the Watergate issue in Orlando, Florida. Richard asks the President about his reaction both personal and political regarding the credibility with the American people as well as his reaction on the discovery that the tapes for White House Counsel John Dean and U.S. Attorney General John Mitchell did not exist. The President responds that he was disappointed. He states that the missing of such tapes gives the impression of things being covered up by the President or his staff members. He states that he would have been been more disappointed in case the tapes which were considered more important would have been missing. He briefly talks about the tapes of September 15th, March 13th and 21st. He states that even though those two missing tapes are not been considered as an essential part of the investigation by the Urban Committee, but he is still disappointed.

U.S. President Richard Nixon answers a journalist's questions regarding the Watergate investigation in a news conference in Orlando, Florida. The journalist asks the President about his reason for not involving himself in a case, and if he thinks that the new special persecutor should be kept from investigating that case. The President responds that he has never spoken to Archibald Cox but he did speak to Assistant Attorney General Henry E. Petersen. He told him that his job was to investigate the Watergate matter. The national security matter should not be investigated and it is the President's responsibility to protect matters of national security.